It's a shorter queue for private placement of bonds in Q1

TNNAug 3, 2004, 02.38am IST

NEW DELHI: During the first quarter of the current fiscal Rs 7,467 crore was mobilised through private placement of debt (bonds). This marks a decline of 27% over the Rs 10,202 crore mop up in the corresponding period of the previous year.

During '03-04, Rs 48,428 crore was raised, according to Prime Database. The drop in mobilisation this year has primarily been in the funds raised by the financial services sector through this route, according to a Prime release.

Mobilisation by all-India financial institutions and banks is down 46% to Rs 3,170 crore from Rs 5,834 crore.

Leading the pack of mobilisers in this category was HDFC with Rs 1,000 crore of collections, followed by Nabard (Rs 800 crore) and NHB (Rs 500 crore). As per Prime, all other sectors recorded a growth in the amount of funds raised.

On a pan industry basis, the financial services sector, however, continued to dominate the market, collectively raising Rs 4,884 crore (66% of the total amount).

Power ranked second with an 11% share (Rs 840 crore), followed by textiles (Rs 530 crore).

State level undertakings recorded a 24% jump to Rs 1,214 crore compared to Rs 977 crore in the corresponding period of the previous year. Most of the funds raised by SLUs continued to be for the infrastructure sector, mainly power, roads and water resources.

The leader in this category was APPGC at Rs 690 crore, followed by HPIDB with Rs 408 crore.

The private sector also recorded a growth. Its share at Rs 2,507 crore was 59% higher than the Rs 1,581 crore mop up during the same period in the previous year.